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India’s IRDA has ambitions to see local catastrophe bonds issued

The Indian insurance and reinsurance market is going through a stage of modernisation, with a number of initiatives seeking to better inform consumers, encourage foreign capital into the market and to ready the market for new product developments.India's insurance regulator, the Insurance Regulatory and Development Authority (IRDA), is leading these read the full article →

India’s GIC Re still investigating catastrophe bonds

India’s national reinsurance company, General Insurance Corporation of India or GIC Re, is continuing to look at catastrophe bonds as a viable addition to its retrocessional reinsurance program, according to its chairman.As Artemis reported back in October, GIC Re would like to be the first Indian sponsor of a catastrophe read the full article →

Weather insurance market in India growing by 25% annually

Helped by the growth of microinsurance and weather-index insurance, India's weather insurance market has been experiencing rapid growth in recent years. Now with more farmers starting to use weather insurance as a way to mitigate against the risks posed by extreme weather and climate change impacts two of India's biggest read the full article →

The push for weather derivatives continues in India

The Indian financial markets have been pushing for regulation to be introduced that would allow for the use of commodity options and derivatives, including weather derivatives, has been under way for nearly two years now. We've written about this previously, here and here, with the latter article discussing moves by read the full article →

Farmers receive weather-index insurance payments in India

HDFC Ergo General Insurance in India have announced that they have made their first payments under their weather-index insurance programme due to heavy rainfall in the Dewas district of India. The index based weather microinsurance coverage was offered for this first time in 2011 to protect soybean farmers from heavy read the full article →